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July 18, 2013

U.S. Government’s Claim Holds Up in Court

On July 9, 2013, U.S. District Judge David Carter ruled that the United States Government may proceed with its lawsuit against Standard and Poor (S&P). The court determined that the complained contained sufficient allegations to support the fraud claims. The U.S. Government filed the complaint in February claiming that S&P intentionally misrepresented credit ratings. The United States is seeking damages of five billion dollars. Not only is the U.S. Government launched a lawsuit against S&P, so have fourteen other states and the District of Columbia. S&P has continually maintained that the claims made by the U.S. Government are without merit.

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